Vietnamese steel stocks moved against the broader market on October 14, 2026, when most of the sector posted strong gains while the benchmark index fell. The VN-Index closed down 14.55 points, or 0.85%, at 1,704.87 points, under pressure from real estate stocks. Banks were mixed, retail names declined, and the energy sector performed better.
Liquidity across the three exchanges reached approximately VND 15,295 billion, up 6.5% from the previous session, but foreign investors recorded a net sale of approximately VND 782.82 billion, led by large-cap real estate names VIC and VHM. Source: vietnam.vn. Steel stocks were the clear bright spot in the session.
Nam Kim Steel Joint Stock Company (NKG) rose by the maximum permitted 6.82% to VND 10,500 per share, on trading volume of more than 6 million shares, equivalent to a transaction value of approximately VND 61.2 billion. Liquidity in the session was nearly three times the average of the previous 10 sessions. Even after this rise, NKG remains about 28.6% below its peak of nearly VND 14,700 per share, recorded at the end of February, and has fallen roughly 33.6% over the past year.
Other sector stocks also advanced: HSG rose 4.48% to VND 10,500 per share, HPG gained 1.71% to VND 20,800 per share, VGS climbed 7.74%, and TVN added 2.06%. SMC closed at its reference price. Source: vietnam.vn.
The rally follows an upward adjustment of selling prices by many domestic steel businesses at the beginning of October. Demand from construction, infrastructure investment and civil engineering is also expected to continue supporting steel consumption. According to a recent industry report by MB Securities (MBS), domestic steel consumption in the third quarter of 2026 is projected to reach 7.68 million tons, up 20% from the same period last year.
MBS expects construction steel consumption to rise 26% and HRC consumption 35%. These are MBS estimates, not reported outcomes. Source: MB Securities (MBS) report, cited by vietnam.vn.
Anti-dumping duties on wide-gauge HRC have also supported the domestic market. According to the source, they helped lift the share of domestic producers in the HRC market above 70%, while steel imports from China fell by more than 10%. Improved demand helped push construction steel prices up 7% year on year in the third quarter, to $560 per ton, while HRC prices rose 6%, to $550 per ton.
Raw material costs are a key variable for producers: according to the same source, iron ore prices remained stable at around $96 per ton, while coal prices rose 15%, to $265 per ton. MBS believes that higher steel prices could offset these input costs and improve gross profit margins. Source: vietnam.vn, citing MBS.
MBS projects a sharp rise in profits for several listed steel companies, although these are forecasts and not reported results. Net profit is projected to increase 40% for HPG, 159% for HSG and 30% for NKG. The source notes that the strong percentage increase for HSG is partly due to a low profit base in the previous year.
Source: MB Securities (MBS), cited by vietnam.vn.
Source: vietnam.vn